Our Bridge Builder profile this month is a unique one. This giver has asked to remain anonymous but did want to share how she came to decide to kickstart her legacy through the Foundation.
The idea first came to her years ago. She wanted to make sure all her finances were in order, so that her grown children would not be burdened with worry, confusion, or uncertainty when she passed away. This included her planned giving, and she had assumed that there was really only one way to arrange that—namely, leaving her financial gift to the Foundation as part of the execution of her will upon her death. Her financial planner said, “We could do something different.”
His proposal was a surprisingly simple one: Alongside her regular monthly giving, she also could make a three-year commitment, dividing her planned giving into three annual payments, starting while she was still alive.
She has discovered that this arrangement provides benefits to everyone involved. She feels at ease knowing that her wishes are being carried out, and she receives a tax benefit. The church gets the gift now, putting it to good use in our community, and she can experience the joy of witnessing her generosity in action. Setting up this early giving is making things easier for her adult children, as well; the process is smooth and handled by her financial planner, which means no hassle, no questions, and no probate.
“It doesn’t matter if it’s a large or modest amount,” she says. “All giving makes a difference.” As she sees it, the Foundation is getting the same amount regardless, so it might as well be able to use that money now. For her, there’s value in being a part of and contributing to the well-being of her church family. “Anything I can do to encourage people to give, I’ll do.”
If this approach to planned giving feels like it might be a good fit for you, too, you can reach out to us for more information: 612.208.6447 or office@blcfoundationmn.org.